Chicago, April 4 – Warwick Capital CLO Management LLC sold $404.1 million of notes in a collateralized loan obligation being issued by Warwick Capital CLO 3 Ltd./Warwick Capital CLO 3 LLC, according to a presale report.
The notes will mature on April 20, 2037.
The CLO consists of $248 million of class A-1 senior secured floating-rate notes at SOFR plus 165 basis points, $8 million of class A-2 senior secured floating-rate notes at SOFR plus 190 bps, $38 million of class B-1 senior secured floating-rate notes at SOFR plus 220 bps, $10 million of class B-2 6.13% senior secured fixed-rate notes, $24 million of class C senior secured deferrable floating-rate notes at SOFR plus 275 bps, $24 million of class D senior secured deferrable floating-rate notes at SOFR plus 450 bps, $14 million of class E senior secured deferrable floating-rate notes at SOFR plus 684 bps and $38.1 million of subordinated notes.
Warwick Capital CLO Management LLC will manage the collateral through the end of the reinvestment period on April 20, 2029.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting April 20, 2026.
RBC Capital Markets LLC was the placement agent.
The collateral manager is a subsidiary of Warwick Capital Partners, a London and Stamford-based investment firm.
| Issuer: | Warwick Capital CLO 3 Ltd./Warwick Capital CLO 3 LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $404.1 million
|
| Maturity: | April 20, 2037
|
| Structure: | Cash flow CLO
|
| Placement agent: | RBC Capital Markets LLC
|
| Manager: | Warwick Capital CLO Management LLC
|
| Call feature: | April 20, 2026
|
| Pricing date: | April 2
|
| Settlement date: | April 25
|
|
|
| Class A-1 notes
|
| Amount: | $248 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 165 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 190 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $38 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 220 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | $10 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 6.13%
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 275 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 450 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $14 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 684 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $38.1 million
|
| Securities: | Subordinated notes
|
|
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